What Global Climate Initiatives can Teach Us About Economic Development

What Global Climate Initiatives can teach us about Economic Development
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What Global Climate Initiatives can teach us about Economic Development
The changing world necessitates enhanced concern for economic development for a majority of countries. As such, these countries depend on a variety of economic models and theories to develop plans and guides for prosperity and improved standards of living for their citizens (Ma & Jiang, 2019). Consequently, with the effects of challenges such as climate change continuously causing havoc, it becomes important to rethink the approaches taken regarding economic development (Lo et al., 2019). Therefore, by looking at aspects such as economic convergence and the big push theory, it becomes possible to shed more light on how global climate initiatives can develop new examples to enhance economic development.
The idea of economic convergence offers an approach for shaping the development agenda into a more equitable and inclusive one. As such, developing countries can get an opportunity to catch up to their developed counterparts through the adoption of policies and technologies proven to have previously worked effectively (Ma & Jiang, 2019). For instance, in the context of sustainable farming practices, countries in Africa have adopted innovative farming techniques that have led to significant growth of their agricultural sectors. This has seen the use of technology such as GPS and various sensors that enable the optimization of crop and livestock production (Retief, 2023). This has enabled such countries to narrow the economic gap between themselves and more developed agricultural economies. More so, this has long-lasting effects that assist in preserving natural resources and mitigating the potentially adverse effects of climate change, ultimately ensuring a more robust and resilient economic future.
On the other hand, the big push theory emphasizes the conti...